Global Iridium-192 Market was valued at USD 0.05 Billion in 2022 and is projected to reach USD 0.10 Billion by 2030, growing at a CAGR of 8.1% from 2024 to 2030.
The Iridium-192 market is witnessing significant growth due to its applications in various industries, particularly in medical and industrial sectors. Iridium-192, a radioactive isotope, is primarily used in radiography and cancer treatment. The isotope's ability to emit gamma radiation makes it ideal for non-destructive testing (NDT) and for the treatment of specific cancers such as prostate cancer. The increasing demand for industrial radiography and advancements in cancer treatment methods are key factors driving the growth of this market.
The use of Iridium-192 in industrial radiography is expanding rapidly. It is a critical component in the detection of flaws in materials, helping to ensure the integrity of structures like pipelines, machinery, and bridges. The need for quality control in industries such as aerospace, automotive, and construction has driven demand for this isotope. With industrialization and the rising number of infrastructure projects worldwide, the need for radiography has surged, propelling the Iridium-192 market forward.
On the healthcare side, Iridium-192 is used in brachytherapy, a technique for treating cancer by directly irradiating tumors. Its application in prostate cancer treatment has grown, thanks to the growing prevalence of cancer globally and the development of more effective radiotherapy options. As healthcare infrastructure improves in developing countries and cancer rates rise, the demand for Iridium-192 is expected to continue expanding.
Additionally, there are efforts to optimize the production of Iridium-192, with newer technologies aimed at improving efficiency and reducing costs. The market is also seeing more stringent regulations around the handling and disposal of radioactive materials, which could impact the availability of Iridium-192 and influence market dynamics.
As global demand for Iridium-192 continues to rise, key players are looking for innovative ways to meet this need while adhering to safety and regulatory standards. The market's future appears promising, driven by advances in both medical and industrial applications.
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Bruce Power
Eckert Ziegler
NTP Radioisotopes
Rosatom
China National Nuclear Corporation
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Iridium-192 Market
Medical
Industry
Santific Research
Others
Based on Types the Market is categorized into Below types that held the largest Iridium-192 market share In 2023.
High Purity Iridium-192
Normal Purity Iridium-192
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Global, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Iridium-192 Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Iridium-192 Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Iridium-192 Market, By Type
6. Global Iridium-192 Market, By Application
7. Global Iridium-192 Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Iridium-192 Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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